Tickmill Review
Overview
Overview
Among the reputable forex brokers operating in Vietnam today, Tickmill is the most surprising and surprising broker. Because in terms of years of operation, Tickmill is really a very young broker when it has only been launched since 2015. But what Tickmill has built in just 5 years, may make many brokers Other forex must be jealous. Even in Vietnam, although there are not many Marketing programs to promote the image of the floor, Tickmill is still known and traded by many traders.
Tickmill Regulation
Tickmill is regulated by 3 reputable financial authorities including: FSA , FCA and CySEC .
This is also one of the points that makes us highly recommend Tickmill. Because the 3 licenses that Tickmill owns all belong to the world's leading prestigious organizations, especially from a broker that has only been operating for 5 years in the forex market.
As you know, the more reputable the agency, the more stringent their licensing requirements will be. Even, FBS is one of the famous floating exchanges in Vietnam, but it also took a long time to be licensed by CySEC.
Therefore, with a new exchange that has been in operation for 5 years and can achieve all 3 of these licenses, it shows that Tickmill is strong in both aspects including finance as well as prestige and professionalism.
Of the 3 licenses Tickmill owns, FCA is arguably the most difficult to obtain. Because this is the UK's leading prestigious financial agency, in order for FCA to accept not only Tickmill but other forex brokers.
It must ensure some of the following specific requirements:
Funding: FCA requires brokers to maintain a minimum of £750,000. Compared to NFA (a prestigious financial regulatory agency in the United States), this capital is still modest, but still much higher than some other regulatory agencies. You should also note, the more reputable the agency, the more demanding this money will be, as ASIC also requires exchanges to have a minimum capital of 1 million Australian dollars before applying for a grant. permission.
Compensation for customers : In addition to the minimum capital required to maintain above, FCA also requires compensation for customers in case of bankruptcy up to 50,000 pounds (more than 1 billion dong).
Maintain a segregated account : ie the forex broker's account , as here is Tickmill, must be completely separate from the client's deposit, to ensure that the broker does not use the client's money for other things, even There are even exchanges that use this money to kill traders' orders. In addition, having a separate account also shows financial strength, whether they have enough liquidity to provide services to customers.
Member of UK Compensation Scheme: Tickmill participates in the Financial Services Compensation Scheme (FSCS) with a maximum value of £85,000.
Another Infomation
Not only that, FCA also allows if there is a dispute between the trader and the exchange, the trader can use financial inspection services to resolve the dispute. And there will be 3rd parties to mediate these disputes for traders.
These are the minimum requirements any broker should have. However, that is not all as brokers will have to go through a rigorous application process, before they are granted a license to operate in the UK. After being granted an operating license, FCA will monitor all activities from the exchange, if there is any fraud, even being denounced by the trader itself, it can lead to the highest penalty that no broker wants to be. floor license revoked.
In addition, since Tickmill is also licensed with CySEC, Tickmill will be required to comply with the Financial Instruments Directive 2014/65/EU or MiFID II, as well as the 5th EU Anti-Money Laundering Directive, together with the Investor Compensation Fund (CIF), according to EU Directive 2014/49/EU, which protects deposits up to €20,000.
Trading Asset
Tickmill offers trading products that are not as diverse as other brokers, but most of them are popular products and are of interest to many investors today.
However, this exchange still has some limitations in providing products such as stocks, ETFs and agricultural commodities (coffee, sugar, wheat, corn, etc.)
Below is a list of typical trading products that Tickmill offers:
| Product | Quantity | Lever |
| Forex pairs | 62 pairs: including majors, crosses and exotics | 1/500 |
| Index | 14 index codes: including some main codes such as AUS200, STOXX50, UK100, US500, USTEC, etc. | 1/100 |
| Oil | 2 codes: including Brent oil and WTI . oil | 1/100 |
| Metal | 2 codes: including Gold and Silver | 1/500 |
| Bonds | 4 codes: including EURBOBL, EURBUND, EURBUXL and EURSCHA | 1/100 |
| Electronic money | 3 tokens: including BTCUSD, ETHUSD and LTCUSD | 1/2 |
Trading accounts at Tickmill
Tickmill offers 3 account types: Classic, Pro and VIP. All accounts have the same execution speed.
| Account Type | Details |
| PRO AUTOMATIC ACCOUNT |
|
| N CLASSIC ACCOUNT |
|
| N VIP VARIOUS |
|
Basically, these 3 account types do not have much difference from leverage, minimum trading lots to trading products. The only highlight of the 3 main account types lies in the minimum deposit, spread and commission fees.
Account Spreads and Commission
Spreads: Classic accounts will have the highest spreads of 1.6 pips or more, while Pro and VIP accounts have the lowest from 0 pips or more.
Commission Fees: Classic accounts will not charge commissions. The other two account types, Pro, will charge about 0.002%, equivalent to 2 currencies, or 2 USD/lot/1 way. With a VIP account, the commission fee will be less than 1 currency unit per party for a trading lot (at the rate of 0.0010% ) ie 1 USD/lot/1 way.
If you are a professional trader who often trades large amounts of money, the Tickmill VIP account is well worth your while. In particular, this account is currently being favored by Tickmill with a minimum deposit of only $25,000 or more instead of $50,000 as before.
The reason for saying that is because, the commission fee for this account is extremely low, only 2 USD/lot/2 way, while this commission fee in other exchanges is maintained at 7 USD/lot/2 way. , the same spread is only on par with Tickmill. This shows that the trading costs that Tickmill offers to traders are really low and attractive!
In addition, the maximum leverage for the 1:500 VIP account is also very impressive. Even Exness is very famous for its leverage of 1: infinity. But in fact, the more you deposit, the more your leverage will decrease. Accordingly, if you deposit from 50,000 USD or more, the maximum leverage, the trader will enjoy only 1:200 according to the regulations of Exness . Meanwhile, with Tickmill, traders can still enjoy a leverage of 1:500.
Leverage, Tickmill floor commissions
The maximum leverage that Tickmill offers to traders is 1:500. However, in each different product, there will be specific leverage levels such as:
- Forex currency pairs (62 pairs) maximum leverage Tickmill offers: 1:500
- Stock and Oil Indices (16 products) maximum leverage Tickmill offers: 1:100
- Metal: with gold it will be 1:500, silver will be 1:125
- Bonds (4 products) maximum leverage will be 1:100
Commission
In terms of commission fees alone, it can be seen that Tickmill is the floor with the lowest fee compared to the forex brokers operating in Vietnam. Therefore, if you are a professional trader, playing with high volume, you can totally consider opening an account at Tickmill.
Tickmill's Desposit and Withdrawal
Beginning with the circumstances for depositing and withdrawing funds to the platform, Tickmill is very clear about the associated conditions and fees. Credit and debit card deposits along with all electronic payment methods incur no deposit or withdrawal fees if the minimum amounts are satisfied.
The minimum deposit is $100 whereas the minimum withdrawal amount is $25. Wire transfers depositing less than $5000 will be assessed bank fees, all of which are waived and covered by Tickmill for amounts above $5000.
In terms of trading spreads and applicable swaps, Tickmill is very upfront about the minimum spreads, the typical spreads, and also the swaps for long and short positions which are posted directly on the website itself for each corresponding asset class.
Swap and rollover-free Islamic accounts are also available upon request for clients who prefer these account types. Additionally, margin and leverage rates are posted directly to the website for the utmost transparency about associated platform fees and charges.
Tickmill Exchange Trading Platform
Tickmill, currently, offers only one platform, MT4. However, the floor also integrates many other useful applications to “make up” for this lack, including tools such as: Autochartist; Copy Trade With Myfxbook application; Economic Calendar; Forex Calculator; Tickmill VPS Virtual Servers and One-Click Trading.
MT4 platform provided by Tickmill
MT4 software developed by Tickmill supports both Mac OS and Windows desktop computers, along with mobile applications including iOS and Android. In addition, Tickmill also integrates on webtrader to make it easier for traders to trade directly on a web browser.
Some special features of MT4 provided by Tickmill
Trading signals with modern notification system.
Advanced charting functionality and order management tools help traders control orders quickly and efficiently.
Built-in 9 timeframes, more than 50 technical indicators for chart analysis, drawing objects, real-time quotes, multiple order types, economic calendar, trading strategy templates and built in MetaEditor to create custom indicator, according to the automated trading system in the MQL programming language. As a result, traders can take advantage of many other utilities from this community to add more utilities, indicators, and other EAs to serve forex investing .
Webtrader platform
An online trading platform that allows quick and easy access to MT4 without the need to download, install or run any additional software, as it runs directly on the trader's web browser. Therefore, with just one click from anywhere in the world with an internet connection, you can trade.
Mobile application
MT4 is integrated by Tickmill for both Android and iOS operating systems, which have the same features as the desktop platform, so you can open, manage and close positions and analyze the market seamlessly. Quick and easy.
In addition to the foregoing, Tickmill also provides FIX API connectivity to individual and institutional clients who maintain a minimum account balance of $500,000. The commission fee will be 5000 USD/month, however Tickmill can also provide the service for free if the trader generates a commission of at least 5,000 USD above.
The FIX API allows traders to trade direct market access (DMA) with the lowest spreads and as fast as possible.
Tickmill's customer support
You can contact Tickmill through vn@tickmill.com . In addition, there is a live support team on the website to talk to or you can use the contact form which provides complete contact phone number, your name, email address and topic you are interested in. Tickmill support team will call or reply to your email.
Conclusion
Tickmill exchange is a young broker but it is their efforts that have achieved a very fast growth rate and are chosen by investors around the world. The name Tickmill is becoming more and more familiar in Trader community. Depending on your investment strategy, traders can consider choosing the right Forex Broker.
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